Chad: First Review Under the Extended Credit Facility Arrangement, and Request for a Waiver of Nonobservance of Performance Criteria - Press Release; Staff Report; and Statement by the Executive Director for Chad
First Review Under the Extended Credit Facility Arrangement, and Request for a Waiver of Nonobservance of Performance Criteria - Press Release; Staff Report
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Volume/Issue:
Volume 2018
Issue 108
Publication date: April 2018
ISBN: 9781484352823
$18.00
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Topics covered in this book
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Business and Economics , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , ISCR , CR , GDP , broad money , debt , Chad , Glencore debt , ECF arrangement , Chadian authorities , Chadian oil price , oil GDP , Completes First ECF Review , Arrears , Debt service , Fiscal stance , Africa , Sub-Saharan Africa
Summary
On April 13, 2018, the Executive Board of the International Monetary Fund (IMF) completed the first review of Chad’s economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of this review enables the immediate disbursement of SDR 35.05 million (about US$51 million). This brings total disbursements under the arrangement to SDR 70.1 million (about US$ 99.8 million). The Board also approved the authorities’ request to waive the non-observance of the continuous performance criterion on the non-accumulation of new external payments arrears, and to rephase the planned disbursements.
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